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Dec 31, 2022
Remit Global Q4 2022 Earnings Report
Remitly's Q4 2022 performance showcased strong growth in active customers, send volume, and revenue, but also reflected a net loss.
Key Takeaways
Remitly Global, Inc. reported a 41% increase in revenue and a 48% increase in active customers year-over-year for Q4 2022. Send volume also increased by 35% compared to Q4 2021. While the company experienced a net loss, adjusted EBITDA showed improvement.
Active customers increased by 48% year-over-year, reaching 4.2 million.
Send volume grew by 35% year-over-year, totaling $8.1 billion.
Revenue increased by 41% year-over-year, amounting to $191.0 million.
Adjusted EBITDA improved to $7.5 million, compared to $(7.1) million in the same quarter of the previous year.
Forward Guidance
For fiscal year 2023, Remitly expects total revenue in the range of $860 million to $880 million, representing a growth rate of 32% to 35% year over year. Adjusted EBITDA is expected to be between breakeven and $10 million and to remain in a GAAP net loss position for 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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